Global fashion retailer Esprit plans to close all 56 of its stores in Germany by the end of the year, with some 1,300 employees losing their jobs, dpa announced on Friday.
The brand rights for the insolvent European company are being sold to British financial investor Alteri.
In May, Esprit filed for bankruptcy for its European operations.
Esprit operates in approximately 40 countries worldwide and has its headquarters in Ratingen, Germany and Hong Kong. Germany was the most important market for the group.
